Welcome to Market Research Guide
I View Market Research Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
What Is Market Research?
from:The process of methodically obtaining, recording and then analyzing the data or information about prospective customers, business competitors plus the existing market trend is called Market Research. It is precisely used to design and create an effective and efficient business plan, to project and launch new products or services into the market, to position and fine tune current services or products, or to expand and increase the reach of the existing product or service. Market research sometimes is used to estimate what parts of the population are interested and are most likely to purchase a product or service, after analyzing and studying many variables including gender, age, income level and location.
Market research is almost always either primary or is secondary depending upon the business need. The Primary market research involves an exhaustive testing of variables like focus groups. The activities like surveys, field tests, interviews tailored specifically to that product are conducted to study the product positioning whereas in secondary research, indirect information gleaned from various sources that appears to be relevant to the new or the existing product is used to estimate the product positioning. Some advantages of the secondary research as evident from its generalized methodology as compared to the customized one of the primary research lies in the fact that it is primarily easily accessible and cheap. The obvious disadvantage of a secondary research is that it is often not specific to a product and the research and the data collected is often biased and is difficult to validate.
Market research aims to answer the following questions:
What are the existing market trends? Which way is the market going? Who are the other parties involved with similar products?
What are the views of consumers about products in the marketplace?
What are the prime needs of the market? What are the new business opportunities? How successful are the existing products in meeting the needs of the consumers?
Using Market research companies can collect information regarding new products, existing products and new business opportunities learn how well new items will be received by the consumers. It can also help businesses to learn how the public responds to a similar product before actually launching the product or service. In this way, business can align their product and service lines with the wants and needs of potential consumers. They can halt production of products that are not popular amongst consumers and improve a product that the public shows little interest in, or lower the price as necessary based on market research information.
I View Market Research Specific links
I View Market Research News
Asian equities trade rather mixed - FXstreet.com
Asian equities trade rather mixed FXstreet.com by KBC Market Research Desk - KBC Bank | View company's profile Regarding trading, Asian equities trade rather mixed. The Chinese PMI declined, which triggered some selling in Shanghai, but overall Asian bourses have no firm direction. |
Natural gas closed higher on Wednesday - FXstreet.com
Natural gas closed higher on Wednesday FXstreet.com by HY Markets Research Team - HY Markets | View company's profile CRUDE OIL closed lower on Wednesday and the mid range close sets the stage for a steady opening when Thursday's night session begins. Stochastics and the RSI remain neutral to bearish ... |
Global Thin Film Photovoltaics CIS/CIGS Market Poised for Massive Growth ... - Sacramento Bee
Global Thin Film Photovoltaics CIS/CIGS Market Poised for Massive Growth ... Sacramento Bee Yole Development's new Thin Film Photovoltaics CIS/CIGS Technology & Market research report provides a detailed analysis of different CIS/CIGS technology approaches and of the CIS position amongst all PV technologies. This report analyses numerous ... |
TEXT-S&P summary: Sanofi - Reuters
TEXT-S&P summary: Sanofi Reuters Sanofi's key business strengths include its critical mass in research and development (R&D) and marketing, which we view as key success factors for the pharmaceutical industry. This has enabled it to build up a substantial drug development pipeline, ... |
Weekly Market Research - FXstreet.com
 CBC.ca | Weekly Market Research FXstreet.com by - 2ndskiesforex | View company's profile The Euro got pummeled across the board, which was actually holding serve until former Greek PM 'L-Pap' (his Greek rap name) commented that the Greeks had no choice but to stick with a painful austerity ... European leaders fail to agree new steps to save Greece - but markets may ... EU in stronger fiscal, debt position than before: Rabobank Fragile union: Eurozone running out of time as Greece nears exit |